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[2011-11-22] Imported private airplanes may enjoy preferential tax rate of zero percent
Imported private airplanes may enjoy preferential tax rate of zero percent
November, 22 2011
VietNamNet Bridge – The four private airplanes imported by Green Planet may get the customs clearance by the end of November. As the airplanes are expected to be used for training, they may be exempted from all kinds of tax, including VAT.
Green Planet’s Chair Cao Van Son said that the procedures relating to the import of the four private airlines have nearly been completed. The Hai Phong ... |
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[2011-11-22] The businessmen doing business on rumor
The businessmen doing business on rumor
November, 22 2011
VietNamNet Bridge – EVN Telecom’s simcards, which were unsalable, have unexpectedly skyrocketed on the information that EVN Telecom would merge into Viettel. The frozen real estate market suddenly became hot on the rumor that the capital city would expand towards the north. Rumors bring big money to some businessmen, and misery to others.
The owner of a motorbike shop on Hue Street in Hanoi earned hundre... |
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[2011-11-21] Electric bill to hike to help EVN cover losses
Electric bill to hike to help EVN cover losses
November, 21 2011
Raising the electric bill is the only way to help the Electricity of Vietnam Group (EVN) to cover its losses amounting to some VND10.126 trillion ($483.9 million) in 2010, said a state official.
“The hike should have been materialized sooner,” said Hoang Nhat Vuong, Minister of Industry and Trade, adding that the wait for the state-run power monopoly’s audit sheet release has caused the delay.
“Th... |
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[2011-11-21] A banker sends word intimating that it’s ready to buy Vinashin’s debts
A banker sends word intimating that it’s ready to buy Vinashin’s debts
November, 21 2011
VietNamNet Bridge – “We are ready to buy back all the debts of Vinashin at the price which is equal to 35 percent of the face value, or 210 million dollars (the original price is 600 million dollars), and we will pay money at once,” the chair of a big bank in Vietnam has stated.
Not only the big bank but some finance institutions and foreign investment funds have also express... |
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[2011-11-21] Taking aim at single digit CPI growth
Taking aim at single digit CPI growth
November, 21 2011
Experts have applauded the National Assembly’s target of single digit consumer price index growth in 2012.
Raymond Mallon, an Australian freelance economist with more than two decades’ experience working on Vietnam’s economy, told VIR that he was confident about the National Assembly’s consumer price index (CPI) forecast for next year. “With strong political leadership, the National Assembly’s CPI t... |
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[2011-11-19] Vietnam warned its export won’t go through if producers use pirated software
Vietnam warned its export won’t go through if producers use pirated software
November, 19 2011
VietNamNet Bridge – Not only the two states of the US, but maybe all the 50 states of the country and some other countries would also apply the regulation, under which import countries will not accept the products made by the companies using pirated software.
The information that the two states of the US, Washington and Louisiana, apply a new regulation, requiring all the companies which... |
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[2011-11-19] BUSINESS IN BRIEF 19/11
BUSINESS IN BRIEF 19/11
November, 19 2011
Vietnam’s inflation to drop: Standard Chartered Vietnam’s inflation is expected to drop to 11.3 percent next year, according to Standard Chartered Bank’s latest report on the 2-year outlook for Vietnamese economic growth. The bank said inflation in Vietnam had begun slowing down and was expected to fall to 19.7 percent next month while the average full-year figure for 2012 was 11.3 percent. The bank said that the recently cooled g... |
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[2011-11-17] Different viewpoints kept about banks’ profit
Different viewpoints kept about banks’ profit
November, 17 2011
VietNamNet Bridge – While businesses complain that banks’ profits are surprisingly high in the context of the current economic difficulties, economists have pointed out that in fact, the banks’ profitability is low.
Trillions of dong in profit have been created by banks on the basis of the huge bank capital, wide networks and the huge assets of banks (from tens of trillions of dong to hundreds of trillions... |
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[2011-11-17] Changes sought for draft gold trading rule
Changes sought for draft gold trading rule
November, 17/11/2011
Vice chairman Dinh Nho Bang of the Vietnam Gold Traders Association said the association has submitted its petition to the central bank indicating the unfeasibility of a draft decree on gold bar trading management.
The petition suggested more flexible regulations on gold trading. Particularly, the central bank should not disallow the business of experienced gold bar traders, to ensure the conditions to trade gold for people... |
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[2011-11-14] Corporate income tax likely to be cut by 5 pct
Corporate income tax likely to be cut by 5 pct
November, 14 2011
The National Assembly’s (NA) Finance and Budget Committee has suggested further corporate income tax cuts to 20 percent, much lower than that at many regional countries, the chair of the committee told Saigon Tiep Thi newspaper.
Taxes are on a decline in general, said the chairman Phung Quoc Hien, adding that corporate income tax which stood previously at 32 percent has been lowered to 28 percent and 25 percent rece... |
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[2011-11-14] Residents in high-end urban area troubled over house ownership
Residents in high-end urban area troubled over house ownership
November, 14 2011
Owners of houses in the Ho Chi Minh City urban area of Phu My Hung are facing increasing difficulties due to a lack of official documentation related to their residency.
Houses without land use rights
During the real estate fever between 2006 and 2008, many people rushed to buy houses in Phu My Hung urban area without paying sufficient attention to land use rights.
By mid-2009 when the market slowed down, s... |
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[2011-11-14] Coffee export turnover reaches record high, but big worries still exist
Coffee export turnover reaches record high, but big worries still exist
November, 14 2011
VietNamNet Bridge – Vietnam has a record high coffee export turnover in 2010-2011. However, the good news has been shadowed by a lot of big worries about the coffee quality problems and the disappearance of many exporters.
The growth unsustainable The coffee output of the 2010-2011 crop reached 1.1 million tons, which allowed to bring the record high export turnover of 2.4 billion dollars, a sharp... |
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[2011-11-11] Breakfast @ Tuoitrenews – November 11
Breakfast @ Tuoitrenews – November 11
November, 11 2011
Politics
-- State President Truong Tan Sang is participating in the 2011 APEC Leaders’ Meeting hosted by Hawaii, the US, between November 12 and 13. APEC stands for Asia-Pacific Economic Cooperation which is a 21-member association of economies from the Asia-Pacific region working together to advance regional economic integration and prosperity.
-- The Governor General of Canada David Johnston will make a State-level vi... |
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[2011-11-11] National Assembly approves VND59 trillion for salary increase in 2012
National Assembly approves VND59 trillion for salary increase in 2012
November, 11 2011
The Vietnamese National Assembly (NA) approved VND59.3 trillion (USD2.83 billion) for salary increases in the 2012 at a meeting on November 10.
NA deputies also approved a resolution on the state budget estimates for next year.
Under the resolution, minimum salaries for state employees will be increased by VND200,000 (USD9.56) to VND1.05 million (USD50) per month from May 1, 2012. The same rise will be... |
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[2011-11-11] Dollar in continued short supply, exchange rate adjustment inevitable
Dollar in continued short supply, exchange rate adjustment inevitable
November, 11 2011
VietNamNet Bridge – Adjusting the dong/dollar exchange rate proves to be unavoidable move. The question for now is not whether to adjust the exchange rate further, but what to do to avoid a big devaluation of the local currency and maintain the monetary stability.
The foreseeable scenario Standard Chartered Bank has predicted that the US dollar will gradually lose its value against most of the curr... |
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